Automobile innovator Ransom Eli Olds formed the REO Motor Co. in 1904 after his penchant for the technical side of the business led him into confrontations that drove him from his namesake company, Oldsmobile. With his new company, which Olds named by using his own initials, he set out to make luxury cars at reasonable prices, using the slogan "The Gold Standard of Value." Although at $1,250, the 1917 REO was not for every budget, it was still priced well less than other luxury cars at the time. This top-of-the-line model had a wheelbase of 126 inches with luxurious upholstery and seating for seven with its rear jump seat. The three-speed, six-cylinder engine was capable of producing 30.50 horsepower.